09 October 2015
2015 has been the year of the tanker. The fundamental improvements with slow supply-side growth for some years coupled with low oil prices from mid-2014 created strength on both sides.
12 October 2010
The upcoming winter season could be a very welcome time-out from sub-USD 10,000 per day markets for both crude and product tanker markets. BIMCO forecast that freight rates for VLCC will firm as the winter season
10 February 2010
Winter all year long seems to be what is needed to balance the tanker market in 2010
16 March 2015
Demand for crude oil and oil product tankers is currently strong and both segments are enjoying an extended winter season with high earnings.
14 April 2010
Floating storage is coming down on the narrowing of market contango, but persists in playing an important part in tanker demand
15 March 2011
One year ago the tanker orderbook stood at 132 million DWT – today it totals 118 million DWT. The total orderbook is down by 11% over the last year. Even though new contracts are being signed at a steady pace, that pace remains slower than that of newbuildings being delivered.
12 April 2011
In a year that is bound to be challenging for tankers, increasing focus will be on the different disruptions affecting the market and bringing about rate spikes
12 June 2019
The tanker market is – even more so than before – all about geopolitics.
15 August 2014
Some time ago, BIMCO expected the first signs of a solid recovery in the oil tanker industry to appear in the product tanker market. However, like other soon-to-arrive recoveries, the waiting time tends to increase as we approach the expected tipping point. This time around, global refinery throughput started the year strongly but entered a still running soft patch in May, high volumes but shorter hauls out of the US Gulf, and the steady inflow of new ships were part of the cocktail that prevented freight rates from taking off big time.
10 October 2013
Demand: The dynamic nature of the product tanker market, where refinery locations, local market demand specifications and price arbitrage trades are constant moving objects, turn one main trade into a minor trade within a New York minute.